The Survivalist's Guide to Data-Driven Marketing

[Webinar]
The Survivalist’s Guide to Data-DrivenMarketing

Tom Murphy
GM & Editorial Director
•Focus Areas: Customer success, customer experience, CMS, digital marketing, collaboration & analytics.
•More than three decades covering technology and business for UBM Tech, RedHerring.com, Bloomberg News, The AP, Montgomery Research, MarketWatch.comand other organizations.
•Author of “Web Rules: How the Internet is Changing the Way Consumers Make Choices”
Moderator

Don’t forget about our 2 Free Gold Passes!
2 Attendees will be given a gold pass valued at $1795 to the
Digital Publishing Innovation Summit
December 10-11 in San Francisco, CA
The winner will be announced immediately after the Q&A so stick around for your chance to win!
Give-Away

5 mins–Introductions
35mins–Heidi Bullock
15-20 mins–Live Q&A (you!)
Agenda

Submit your questions!
•Via WebEx
•Use the Chat or Q&A modules
•Via Twitter
•@CMSWire
Questions

WebEx Chat
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•Founded in 2003
•400+ editorial contributors
•Key Services:
–200+ articles per month
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•Three Primary Topic Areas:
–Customer Experience, Digital Marketing
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About CMSWire

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Intros
Marketo provides easy and powerful marketing automation software with everything a marketer needs: email, social, analytics, lead management, and more. Marketo allows marketers to interact seamlessly with their customers across channels and supplies the data and analytic insights to understand where and how to allocate their budgets for maximum return.
Learn more at www.marketo.com

Heidi Bullock
•VP of Demand Generation at Marketo
•Over 10 years of B2B marketing experience in high tech companies
•Expertise includes positioning, brand development, online advertising and direct marketing
Intros

© 2014 Marketo, Inc.
Marketo Proprietary and Confidential
Topics
1.Methodology
2.Revenue Cycle
3.Analytics

Poll #1
How many of you know what profits could be generated with 10% more budget?
a)I do!
b)I don’t!
c)I’m not sure

On average, only 32.5% of projects are using marketing analytics.
CMO Survey, conducted by the Duke Fuqua School of Business.

12%
20%
15%
9%
44%
Improve profits bymore than 20%
Improve profits by10% to 20%
Improve profits up to10%
No major change inprofits generated
Don't Know
What Profits Can Be Generated With 10% More Budget?
#1 Answer:
Don’t Know
Source: 2010 Lenskold Group / eMediaLead Generation Marketing ROI Study

Methodology

There are different levels of reporting

Success Secret #1: Agree on Definitions
Need help? Check out:
http://www.marketo.com/ebooks/how-to-define-a-lead/

Example –What Metric Matters?
Names from a Tradeshow?
Attended demo, right, demographics?
Pipeline

When Metrics Take Away Credibility
Vanity Metrics
Sound good and impress people, but don’t measure impact on revenue or profitability.
Activity Metrics
Measure what you do instead of what results and impact you have.

Cost Metrics
Frame marketing in terms of cost and spending instead of results and outcomes.
When Metrics Take Away Credibility

The best event programs incorporate intentional measurement strategies in advance.
Success Secret #2: Set Goals Upfront
Pre-Event:
Engagement# downloads on your asset
During Event:
#booth visits, # demos, # attended talk
Post-Event:
#downloads on slides –on follow up email
Leads > Opportunities
15
3 Closed Deals
Jan
Feb
Apr
May
June

Success Secret #3:
Design Programs to be Measurable

Success Secret #4: Focus on Decisions that Improve Marketing
vs.

Revenue Cycle

Name
Awareness
Friend
Engaged
Target
TOFU
MOFU
Opportunity
Customer
Lead
Sales Lead
Nurturing Database
BOFU

Name
Awareness
Friend
Engaged
Target
Opportunity
Customer
Lead
Sales Lead
Nurturing Database
Exposed to us via content, brand, or word of mouth

Name
Awareness
Friend
Engaged
Target
Opportunity
Customer
Lead
Sales Lead
Nurturing Database
Feels a relationship and trust with us

Name
Awareness
Friend
Engaged
Target
Opportunity
Customer
Lead
Sales Lead
Nurturing Database
Names are just names

Name
Awareness
Friend
Engaged
Target
Opportunity
Customer
Lead
Sales Lead
Nurturing Database
Meaningfulinteraction with us

Name
Awareness
Friend
Engaged
Target
Opportunity
Customer
Lead
Sales Lead
Nurturing Database
Nurture until ready for next step
Qualified potentialcustomer

Name
Awareness
Friend
Engaged
Target
Opportunity
Customer
Lead
Sales Lead
Nurturing Database
Marketing qualified lead (score > 100) – Sales Development Rep (SDR) reach-out

Name
Awareness
Friend
Engaged
Target
Opportunity
Customer
Lead
Sales Lead
Nurturing Database
Qualified as sales-ready by Sales Development Rep (SDR)

Name
Awareness
Friend
Engaged
Target
Opportunity
Customer
Lead
Sales Lead
Nurturing Database
Accepted and actively worked by sales: marketing quotaattainment

Poll #2
What is your top challenge today regarding measurement?
a)They are too complex and difficult to use
b)I do not have the data or the budget required
c)I do not have the time for this type of work
d)There are too many, I don’t know where to start

Analytics

Why Measuring Return is Hard
•Multiple touches. Seven touches needed to convert a cold lead into a sale
•Multiple influencers. Typical buying committee has 5-21 people

Track All Touches Across People
Screenshot: Marketo Revenue Cycle Analytics

Example: Multi-Touch Attribution
A deal worth $100,000 recently closed. Three people were involved in the deal:
•Moe attended Webinar and Tradeshow
•Larry attended Tradeshow
•Curly responded to Direct Mail
$100,000 Revenue
$25,000
$25,000
$25,000
$25,000
Webinar
$25,000
Tradeshow
$50,000
Direct Mail
$25,000

Source: Marketo Revenue Cycle Analytics, Apr 2014* Percentage of all programs in channel that achieve MT Ratio > 5

Inbound + Nurture = 58% of (MT) Pipeline
Paid Programs = 42% of (MT) Pipeline

(MT) Ratio = Pipeline / Investment>10 is Great and <5 is FailSponsored Email = 12.8, Tradeshow = 10.6, PPC = 13.0, Webinars = 25.4, Field Events = 6.6, Content Syndication 7.7

% Programs with MT Ratio > 5e.g. Tradeshow has good average but 49% programs “fail”

Use Metrics to Set & Justify BudgetsNew TargetsNew MQLsScore>10023,000Inventory of Active MQLs20,000New Opps*
1,0006 Month Created OppInv. 2,000
270
*Oppsis bigger than SQLs because includes outbound and partner referralsSDR capacity driven Inbound / Programs 120K(900K DB Total) New NamesNew SQLs922 Wins Inventory Of Active Targets60,000131,000
15.3%
10.5%
2.4%
1.9%
75%
35%

Get the “Definitive Guide to Marketing Metrics & ROI”
marketo.com/DG2MM

Takeaways
1.Agree on definitions and set goals upfront with C level.
2.Just because you can measure something, doesn’t mean you should do it –focus on a few metrics that matter for YOUR business.
3.Avoid cost and spend metrics –focus on investment and return.
4.A trusted marketing forecast = credibility.
5.Progress not perfection!

Time for your questions!
Enter your questions into the Q&A module
@CMSWire
@marketo@heidibullock
#datadriven
Q & A

It’s that time!
And the winners are….
Winners

The webinar has been recorded. The video and a recap article will be emailed to you and available on CMSWire.comin a few days.
Thanks again to Heidi Bullock for the thought-provoking ideas and to Marketofor sponsoring today’s event.
If your company is interested in sponsoring a webinar, please email us at advertising@cmswire.com.
Thank You

The Survivalist's Guide to Data-Driven Marketing

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